Wipro moves ahead of company’s set record date for buyback

Wipro traded down 0.18% to Rs 363 ahead of the company’s record date on Friday, 11 December 2020, for the proposed Rs 9,500 crore share buyback programme.

The IT major plans to buyback 23.75 crore shares, representing 4.16% of total paid-up equity share capital of the company, at Rs 400 per equity share for an aggregate amount not exceeding Rs 9,500 crore. The company set the record date on 11 December 2020 for determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback.

The IT major’s consolidated net profit rose 3.15% to Rs 2,465.7 crore on a 1.35% increase in net sales to Rs 15,114.50 crore in Q2 FY21 over Q1 FY21.

Wipro is a global information technology, consulting and business process services company.

On a year to date (YTD) basis, the stock has gained 47.92% while the benchmark Sensex has risen 11.31% during the same period.

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